June 28, 2009
The Henderson foreclosure picture
I was recently sent a written interview by an international investor publication concerning investing in Henderson real estate. I have included both the questions and answers in this series of articles on Henderson Home investment opportunities.
Allison (Question): What is the foreclosure picture in Henderson? I know Henderson is a nearby “neighbor” market of Las Vegas. How is it doing in comparison to Vegas, particularly in the wake of the real estate fallout?
The REO (foreclosure) properties were not divided by the Greater Las Vegas Association of Realtors until March 2008 with the first real results being posted for April 2008.
Approximate total single family units in the Greater Las Vegas area 427,000.
Total single family REO’s Listed Since April 1, 2008 in the Greater Las Vegas area including Henderson 31,791.
Total single family REO’s Sold Since April 1, 2008 in the Greater Las Vegas area including Henderson 26,296.
7.45% of the Greater Las Vegas housing inventory has been listed as REO’s since April 1, 2008
6.16% of the Greater Las Vegas housing inventory has been Sold as REO’s since April 1,2008
Approximate total single family units in the Henderson area 71,500.
Total single family REO’s Listed Since April 1, 2008 in Henderson 3,961.
Total single family REO’s Sold Since April 1, 2008 in Henderson 3,273.
5.54% of the Henderson housing inventory has been listed as REO’s since April 1, 2008
4.58% of the Henderson housing inventory has been Sold as REO’s since April 1, 2008
It appears that Henderson has faired 21.1% less depreciation in the market place while having 74.3% less units for sale than Las Vegas, based on total home inventories.
Henderson is fairing far better than most areas in Las Vegas.
The next instalment I will cover the question: What is your short-term (6 months) outlook? Long-term (5 years)?
